Rewarding Employees - A unique Way

Managements always encourage healthy competition, but rarely do the achievers get rewarded for their over-the-expectation work. In this article we are illustrating the latest case of an outstanding organization ‘The Mudra Group’. It recognized the importance of rewarding home grown talent and through its initiative, Extra Punch, sent six individuals from different branches across the country on a 10-day tour to the Cricket World Cup.
Vice president strategic planning was one of the lucky six who got the chance to go to the Carribean. He says it is a one-of-its-kind initiative in many ways; the intent on the part of the management philosophy is to recognize home grown talent.
The management realizes that nurturing internal talent is much more beneficial than importing talent and then nurturing it. There have been many studies and research work in the west that substantiates this theory. Familiarity, interpersonal relationships and understanding, gathering knowledge, etc are the key aspects that make good employees. Noteworthy is not the fact that we went abroad, but it’s our efforts that the agency has recognized and rewarded that makes this trip special.
Along with VP there were two other individuals from the Mumbai office who went to Barbados – director, corporate and business development and group business director.
One of the reasons for starting the reward program was to present the achievers with a chance to spend some time interacting with the MD and CEO and to exchange views regarding the organization and its workings.
Introduced by the Company’s Leadership Learning and Change (LLC) department, Extra Punch seeks to reward those who have shown consistent progress, loyalty and delivered results.
The unit and department heads shortlist the most eligible candidates and submit a report on each team member to the operating board that comprises of the top management.
The group believes that changes are inevitable and it is their duty to groom people to thrive in this change. It believes that growth is when there are people at the helm of the company’s affairs. Extra Punch gives achievers a chance to win across all levels, irrespective of their designation or department.
It’s like the 3Ps – people, product, profit. Any company’s major assets are its employees and that is what the organization recognizes and rewards. It was a tremendous feeling to go on a trip abroad as a reward. Also, it is every Indian’s dream come true going for the Cricket World Cup.
With the carrot dangling in-front of your eyes, working hard is worth it. Extra Punch not only challenges everyone to put in their best, but also encourages healthy competition in the organization. The six individuals came back with lot of pride and even more stories.
The organization has kept up to its trendsetter image. Rewarded employees discovered some fantastic cocktails, loitered around beaches, went on cruise, safari, submarine ride, played beach cricket, snorkelled, almost every fun thing that one can think of. The group stayed at The Gap, one of the most happening places in Barbados and according to them It was a fantastic experience.